When insiders sell shares, it indicates that they are concerned about the prospects of the company or that they consider the stock to be overvalued. Either way, this signals an opportunity to go short on the stock. Insider selling should not be considered the sole indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is an overview of some recent notable insider sales. To find out more, see Benzinga Insider Trading Platform.
- The exchange: GeneralMills, Inc. (NYSE: GIS) Dana M McNabb, S&G CEO sold a total of 20,743 shares at an average price of $68.86. The insider received $1,428,458.16 as a result of the trade. The insider also bought a total of 7190 shares.
- What is happening: General Mills last month reported worse-than-expected second-quarter EPS results.
- What General Mills does: General Mills is a global packaged food leader that produces premium snacks, cereals, convenience meals, yogurts, dough, baking mixes and ingredients, pet food and ice cream .
- The exchange: Shutterstock, Inc. (NASDAQ: SSTK) Executive Chairman Jonathan Oringer sold a total of 39879 shares at an average price of $97.56. The insider received $3,890,664.21 from the sale of these shares.
- What is happening: Shares of the company have fallen about 10% over the past month.
- What Shutterstock does: Shutterstock Inc is a United States-based company primarily engaged in the provision of digital content.
- The exchange: Jabil Inc. (NYSE: JBL) Chairman and CEO Mark Mondello sold a total of 12,000 shares at an average price of $70.20. The insider received $842,413.55 as a result of the transaction.
- What is happening: Jabil last month announced a new partnership with Carnival to manufacture and deliver the Princess Medallion cruise ship.
- What Jabil does: Jabil Inc is a United States-based company that provides manufacturing services and solutions. It provides comprehensive electronic product design, production and management services to companies in various industries and end markets.
- The exchange: Twitter, Inc. (NYSE: TWTR) Chief Financial Officer Ned Segal sold a total of 5000 shares at an average price of $39.79. The insider received $198,950.00 from the sale of these shares.
- What is happening: Aleph Group recently said Twitter made a minority investment in the company.
- What does Twitter do: Twitter is an open distribution platform and a conversation platform around short text content (maximum 280 characters), images and videos. Its users can create different social networks according to their interests, thus creating an interest graph.
- The exchange: Alphabet Inc. (NASDAQ: GOOG) Director Sergey Brin sold a total of 8300 shares at an average price of $2,690.33. The insider received $22,329,735.11 from the sale of these shares.
- What is happening: Google recently announced the acquisition of Siemplify.
- What is the alphabet used for? Alphabet is a holding company, with Google, the internet media giant, as a wholly owned subsidiary. Google generates 99% of Alphabet’s revenue, more than 85% of which comes from online advertising. Google’s other revenue comes from app and content sales on Google Play and YouTube, as well as cloud service fees and other licensing revenue.
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